General Motors targets 20 all-electric models by 2023

Lucy Hill
October 3, 2017

General Motors plans to go 100 percent electric, the Detroit automaker announced Monday. "Although that future won't happen overnight, G.M.is committed to driving increased usage and acceptance of electric vehicles". And it promised an increase in the number of electric fast-charging stations in the USA, which now total 1,100 from companies and governments, taking a shot at electric competitor Tesla Inc.by saying the system would not be "walled off" from electric vehicles made by other manufacturers.

But GM said its promise takes this commitment a step further, NBC News reported.

General Motors Co. plans to introduce two more electric vehicles in the US over the next 18 months and 20 globally within six years, the nation's largest auto maker by sales said Monday. It expects hydrogen fuel-cell vehicles to also play a role and reveals it has developed a 4-wheel-steer FCEV concept built on a heavy-duty truck frame.

Newer lithium-ion batteries have drastically improved the capabilities of electrified vehicles and there are now dozens of hybrids, plug-ins and BEVs on the market, as well as three hydrogen fuel-cell vehicles.

Even though gasoline-powered SUVs are what people are buying now, General Motors is betting that electric vehicles will be all the rage in the not-too-distant future. By 2023, it plans to sell at least 20 vehicles running on only electric power.

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The Bolt, the first all-electric vehicle aimed at the middle market, now faces competition from Tesla's Model 3, which has won admiration among many environmentalists and auto aficionados as a leader in new auto technologies. Those first two vehicles will be battery-electric models, powered by a new drive system engineered with lessons learned from the Bolt. Reuss said that the next version is going to be better than the one GM has on the road today.

GM has set up a joint venture with Honda (NYSE: HMC) to mass-produce fuel cells at a facility in MI.

GM's announcement is the latest in a string of statements from big automakers promising a broad transition to electric vehicles over the next decade or so. The cars, priced at almost $15,500, are the first attempt by the Indian government to replace its half-a-million fleet of diesel and petrol cars - used by hhigh-rankinggovernment employees - with electric vehicles.

US rival Ford Motor Co. The Motley Fool owns shares of and recommends Ford and Tesla.

Other reports by TheDailyFarc

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